The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn Buys 545 Shares

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, the director now owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Bancorp Stock Down 2.3 %

Shares of NASDAQ TBBK traded down $1.16 on Tuesday, reaching $49.03. 597,829 shares of the company's stock traded hands, compared to its average volume of 626,194. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $59.26. The business's 50 day simple moving average is $52.20 and its two-hundred day simple moving average is $43.13. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 12.38 and a beta of 1.45. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.08). Bancorp had a net margin of 39.22% and a return on equity of 26.63%. The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same period in the prior year, the business posted $0.92 EPS. As a group, equities research analysts forecast that The Bancorp, Inc. will post 4.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Entropy Technologies LP grew its holdings in shares of Bancorp by 256.2% during the first quarter. Entropy Technologies LP now owns 23,375 shares of the bank's stock valued at $782,000 after buying an additional 16,812 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank's stock valued at $4,180,000 after buying an additional 70,361 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Bancorp during the first quarter valued at approximately $1,008,000. BNP Paribas Financial Markets grew its holdings in shares of Bancorp by 51.6% during the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank's stock valued at $2,404,000 after buying an additional 24,453 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank's stock valued at $13,270,000 after buying an additional 164,855 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 price target (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. StockNews.com lowered shares of Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th. Finally, Piper Sandler increased their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 29th.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.

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